Burnside, Victoria - July 2026 Real Estate Report

Burnside Real Estate Check-In: Your Neighbour's Assessment Is Lying To You

If you own a home in Burnside and you're still looking at your BC Assessment notice to figure out what your place is worth, stop. That number is already old. Here's what's actually happening on the ground right now.

The Big Picture: What Burnside Is Worth Today

The city says the average Burnside property is worth one thing. The market says something very different. With 502 houses and 1,061 condos assessed this year, there's a lot of real estate value sitting in this neighbourhood - and most owners are probably underestimating it.

The Vibe: Houses vs. Condos in Burnside

Houses - Taking a Breather

We saw only 1 house sell in Burnside recently, with an average sale price of $801,000. That's down 40.2% from last month - but before you panic, that's a low-volume number. One sale can swing the average wildly. What matters more is that the buyer paid 100.14% of list price. In plain English: they paid over asking. That's not a collapsing market.

• Average sale price: $801,000
• Average list price: $799,900
• Price per square foot: $842
• Average days on market: 20 days
• Sold-to-list ratio: 100.14% (above asking)
• HonestDoor predicted value: $1,152,332
• 3-month moving average: $1,135,897 (trending up)
• Estimated monthly rent: $4,405
• Rental yield: 4.69%
• Airbnb potential: $219 per night (ranked 14th in Victoria)

Houses are sitting on the market for 20 days on average. Hillside Quadra next door is moving in 10 days. That gap tells us Burnside houses need to be priced right to move fast. The good news? The predicted value of $1,152,332 is climbing past the 3-month average of $1,135,897. The trend is still pointing up, even if the pace is slow.

On the neighbourhood leaderboard, Burnside houses rank 12 out of 14 for growth rate. That puts us near the bottom of the pack in Victoria right now. But price rank sits at 6 out of 13 - meaning we're still above average in value compared to most Victoria neighbourhoods. Higher price, slower growth. That's the trade-off here.

Condos - Steady, But Watch the Trend

The condo side of Burnside is a different story. Six condos sold recently, buyers paid 97.39% of list price - slightly under asking - and properties are sitting for 29 days on average. That's a stable buyers' market. Not a fire sale, but sellers don't have all the leverage either.

• Average sale price: $428,000
• Average list price: $439,283
• Price per square foot: $567
• Average days on market: 29 days
• Sold-to-list ratio: 97.39% (below asking)
• HonestDoor predicted value: $1,279,900
• 3-month moving average: $1,307,231 (trending down slightly)
• Estimated monthly rent: $4,150
• Rental yield: 3.38%
• Airbnb potential: $206 per night (ranked 12th in Victoria)

The condo predicted value of $1,279,900 is dipping below the 3-month average of $1,307,231. That's a flag worth watching. Values have shifted -2.26% recently, and the growth rank sits at 9 out of 14 in Victoria - below average. On the flip side, Burnside condos still rank 7 out of 14 for price, putting us in the upper half of Victoria for condo value. We're not cheap, we're just not accelerating right now.

Compare us to the neighbours: Victoria West condos are cheaper and growing faster. Saanich Core condos are much cheaper. Hillside Quadra condos are pricier but shrinking faster. Burnside sits in the middle - not the hottest, not the coldest.

The Secret Sauce: Why Your HonestDoor Price Matters More Than Your Assessment Right Now

Here's the thing about BC Assessment: it's a snapshot from last July. A lot has changed since then. The HonestDoor Price updates in real time using actual market activity - recent sales, current listings, neighbourhood trends. It's the difference between a weather forecast and last summer's temperature.

For Burnside houses, the average assessed value is $970,012. The average HonestDoor Price is $1,150,188. That's an 18.57% gap. If you're making any financial decision - refinancing, selling, even just knowing your net worth - using the assessment number means you're leaving roughly $180,000 on the table in your mental math.

For Burnside condos, the gap is even more striking. The average assessed value is $525,738. The average HonestDoor Price is $1,286,180. That's 144.64% higher than the assessed value. The assessment and the real market are barely in the same conversation. If you own a condo in Burnside and you haven't checked your HonestDoor Price recently, do it today.

The "So What?" - Thinking About Selling This Summer?

If you're a house owner in Burnside and you're thinking about listing this summer, here's the honest take. Buyers are still paying over asking when a house is priced right - that 100.14% sold-to-list ratio proves it. But with only 1 sale in the recent window and days-on-market sitting at 20 days versus 10 days in Hillside Quadra, you need to come in sharp on price. Overpriced listings are sitting. Well-priced ones are still getting competed on.

If you own a condo, the market is more balanced right now. Buyers have a bit more room to negotiate - that 97.39% sold-to-list ratio tells you they're using it. If you need to sell, price it to move. If you can wait, the rental yield of 3.38% and $4,150 per month in estimated rent means holding isn't a bad option while you watch the market settle.

Either way, the first step is knowing your real number - not the city's number. Check your HonestDoor Price, compare it to what's actually selling nearby, and make your move from there.

• Burnside house HonestDoor Price: $1,150,188 (up from assessed $970,012)
• Burnside condo HonestDoor Price: $1,286,180 (up from assessed $525,738)
• Neighbourhood growth year-over-year (houses): 0.05%
• Neighbourhood growth year-over-year (condos): -0.01%
• Total transactions in 2026: 4 houses, 11 condos
• Closest comparison: Victoria West is cheaper across the board; Saanich Core houses are pricier and growing slower

Burnside is a solid neighbourhood with real value. The market is taking a breather, not falling apart. Know your number, price it right, and you'll be in good shape this summer.

This information is all based on our opinions based on the information available to us. Everyone's situation may be different and you should reach out to us for more personalized information.